Norwood Financial Corp. (NASDAQ:NWFL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Norwood Financial Corp. (NASDAQ:NWFL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(d) On June 13, 2017, Meg L. Hungerford was appointed to the Boards of Directors of the Registrant and its principal subsidiary, Wayne Bank. Ms. Hungerford will serve with the class of the Registrant’s directors whose terms expire at the 2018 annual meeting. Ms. Hungerford is expected to serve on the Audit Committee and as a rotating member of the Directors’ Loan Committee of Wayne Bank. Ms. Hungerford will receive the same compensation paid to other non-employee directors of the Registrant and the Bank and will be eligible for option and restricted stock awards under the Registrant’s 2014 Equity Incentive Plan. Through January 2018, she will also receive $1,000 per month for her service on the regional advisory board on which the former directors of The National Bank of Delaware County are serving. There are no understandings or arrangements between Ms. Hungerford and any other person to which she was selected as a director. Ms. Hungerford currently has a loan from Wayne Bank which was made in the ordinary course of business on substantially the same terms, including interest rate and collateral, as those prevailing at the time for comparable loans with other persons unrelated to the lender, and did not involve more than the normal risk of collectability or present other unfavorable features. There are no other transactions to which the Registrant or its subsidiaries are a party in which Ms. Hungerford or her related interests have an interest requiring disclosure under Item 404(a) of Regulation S-K. For further information, reference is made to the Registrant’s press release, dated June 15, 2017, which is filed as Exhibit 99.1 hereto.
Item 9.01. Financial Statements and Exhibits
(d) The following exhibits are filed with this report.
Number Description
99.1 Press Release, dated June 15, 2017

About Norwood Financial Corp. (NASDAQ:NWFL)

Norwood Financial Corp. is a bank holding company. The Company operates through its subsidiary, Wayne Bank (the Bank). The Bank is a chartered bank and trust company. The Bank is an independent community bank that operates over five offices in the Wayne County, approximately three offices in Pike County, four offices in Monroe County and over three offices in Lackawanna County. The Bank offers various personal and business credit services, trust and investment products, and real estate settlement services to the consumers, businesses, nonprofit organizations and municipalities in each of the communities that the Bank serves. The Bank primarily serves the Pennsylvania counties of Wayne, Pike, Monroe and Lackawanna, as well as the Susquehanna County. In addition, the Bank operates approximately 20 automated teller machines. The Bank operates a Wealth Management/Trust Department, which provides estate planning, investment management and financial planning to customers.

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